Sprint (NYSE:S) announced today it intends to redeem a portion of 2014
debt maturities with an aggregate principal amount of $1,169,886,500 on
Nov. 19, 2012. The securities comprising this debt retirement are the
Nextel Communications, Inc. 5.95 percent Notes due 2014.

The Company also intends to redeem the remaining portion of 2015 debt
maturities with an aggregate principal amount of approximately
$1,109,960,000 on Nov. 19, 2012. The securities comprising this debt
retirement are the Nextel Communications, Inc. 7.375 percent Notes due
2015.

The 2014 and 2015 Nextel Notes will be redeemed at par, plus accrued and
unpaid interest until the redemption date. After this retirement, no
2014 or 2015 Nextel Notes will remain outstanding.

The remaining outstanding principal balance of the Company’s 2013 and
2014 Note maturities is $300 million and $181 million, respectively.

About Sprint Nextel

Sprint Nextel offers a comprehensive range of wireless and wireline
communications services bringing the freedom of mobility to consumers,
businesses and government users. Sprint Nextel served nearly 56 million
customers at the end of the third quarter of 2012 and is widely
recognized for developing, engineering and deploying innovative
technologies, including the first wireless 4G service from a national
carrier in the United States; offering industry-leading mobile data
services, leading prepaid brands including Virgin Mobile USA, Boost
Mobile, and Assurance Wireless; instant national and international
push-to-talk capabilities; and a global Tier 1 Internet backbone. The
American Customer Satisfaction Index rated Sprint No. 1 among all
national carriers in customer satisfaction and most improved, across all
47 industries, during the last four years. Newsweek ranked Sprint No. 3
in both its 2011 and 2012 Green Rankings, listing it as one of the
nation’s greenest companies, the highest of any telecommunications
company.